278: Listen and Learn -- Partnership Liability

Welcome back to the Bar Exam Toolbox podcast! This is the second installment of our episodes on partnerships. In part one , we covered the creation of the three main types of partnerships – general partnerships, limited partnerships, and limited liability partnerships. Today we will focus on the power and liability of partners in a partnership. In this episode, we discuss: Authority of partners in a partnership Liability of partners in different partnership types: General partnership Limited partnership (LP) Limited liability partnership (LLP) Applying the rules to two hypos from previous California bar exams Resources: "Listen and Learn" series (https://barexamtoolbox.com/bar-exam-toolbox-podcast-archive-by-topic/bar-exam-toolbox-podcast-explaining-individual-mee-and-california-bar-essay-questions/#listen-learn) California Bar Examination – Essay Questions and Selected Answers, July 2023 (https://www.calbar.ca.gov/Portals/0/documents/admissions/Examinations/July-2023-CBX-Questions-and-Selected-Answers.pdf) California Bar Examination – Essay Questions and Selected Answers, July 2014 (https://www.calbar.ca.gov/Portals/0/documents/admissions/gbx/July2014CBX_SelectedAnswersEssays1-6_R.pdf) Podcast Episode 84: Tackling an MEE Partnerships Essay (https://barexamtoolbox.com/podcast-episode-84-tackling-an-mee-partnerships-essay/) Podcast Episode 269: Listen and Learn – Creation of Partnerships (https://barexamtoolbox.com/podcast-episode-269-listen-and-learn-creation-of-partnerships/) Download the Transcript (https://barexamtoolbox.com/episode-278-listen-and-learn-partnership-liability/) If you enjoy the podcast, we'd love a nice review and/or rating on Apple Podcasts ( https://itunes.apple.com/us/podcast/bar-exam-toolbox-podcast-pass-bar-exam-less-stress/id1370651486 ) or your favorite listening app. And feel free to reach out to us directly. You can always reach us via the contact form on the Bar Exam Toolbox website ( https://barexamtoolbox.com/contact-us/ ). Finally, if you don't want to miss anything, you can sign up for podcast updates ( https://barexamtoolbox.com/get-bar-exam-toolbox-podcast-updates/ )! Thanks for listening! Alison & Lee